Relocating to UAE: How to Obtain Residency Through Business Setup or Property Ownership
As Dubai continues to emerge as a premier destination for global investors and expatriates, the UAE’s evolving regulations make it an increasingly attractive place for relocation and business setup. The recent changes to Dubai’s business laws have made it easier for expatriates to establish 100% foreign-owned companies, adding to the city’s appeal. Here’s a comprehensive guide on how you can obtain residency through business setup or property ownership, reflecting the latest legal updates.
How to Obtain UAE Residency Through Business Setup
1. Choose Your Business Structure
Free Zone Companies Dubai’s Free Zones remain a popular choice for businesses aiming to benefit from full foreign ownership. With over 50 Free Zones, these areas cater to various sectors such as media, logistics, and technology. Free Zone companies are ideal for businesses focusing on international trade, as they offer complete ownership and tax exemptions.
Mainland Companies Recent legal amendments have significantly changed the landscape for Mainland business setups. Previously, expatriates could only own up to 49% of a company, with the remaining 51% held by a UAE national. However, the new regulations allow for 100% foreign ownership in the UAE mainland without needing a local partner. This change applies to 1,061 out of the 2,300 economic activities listed by the Department of Economic Development (DED), including trading and manufacturing. Professional services still benefit from 100% foreign ownership but require a local service agent (LSA) and a sole establishment legal structure instead of an LLC.
2. Business Setup Process
. Choose a Business Activity Determine the type of business activity you wish to engage in, as this will dictate the license you need.
- Register Your Company Complete the registration process with the relevant Free Zone authority or Dubai’s Department of Economic Development (DED) for Mainland companies.
- Obtain a Business License Apply for the appropriate business license based on your chosen structure and location.
- Apply for a Residency Visa With your business setup, you can apply for a UAE residency visa. This visa allows you to live and work in Dubai and can be extended to your family members.
Additional Services In addition to standard business setups, Maldbury & Co can assist with establishing holding companies, foundations, trusts, and Special Purpose Vehicles (SPVs). These structures can be advantageous for various strategic, financial, and operational purposes, providing flexibility and enhanced asset protection.
How to Obtain UAE Residency Through Property Ownership
Invest in Real Estate
- Purchase Property To secure residency through property ownership, invest in real estate within Dubai. Ensure the property meets the minimum value requirements set by the UAE government.
- Secure Residency Visa After purchasing the property, apply for a residency visa. This visa permits you to reside in Dubai and access its exceptional amenities.
- Open a Bank Account With your residency visa, you can open a bank account in Dubai, facilitating your financial transactions and integration into the local economy.
Add Your Heading Text HereWhy Relocate to the UAE?
- Favorable Tax Policies The UAE’s tax policies are highly attractive to investors. The country offers zero corporate and personal income taxes for most sectors, except for banking and oil industries. VAT is set at a low 5%, enhancing Dubai’s investment appeal.
- Economic Stability Dubai benefits from a stable economic environment with its currency pegged to the US Dollar. This stability, coupled with a robust economy, makes it an excellent location for investment and relocation.
- High Quality of Life Dubai provides a high standard of living with access to world-class healthcare, education, and recreational facilities. Its multicultural environment and excellent connectivity further enhance its appeal as a global business hub.
- Efficient Residency Processing The UAE offers a streamlined residency application process. Investors can quickly obtain residency visas through business setup or property ownership, with options to include family members.
Types of UAE Residency Visas
- Employment Visa This visa allows you to work in the UAE and is typically valid for two years. Required documents include your passport, trade license, and educational certificates.
- Investor/Partner Visa Issued to business owners in Free Zones or Mainland companies, this visa is valid for two years and requires documents such as LLC agreements and trade licenses.
- Dependent’s Visa This visa enables you to bring your family to live with you in Dubai. Requirements include proof of income and supporting documents like marriage and birth certificates.
- Retirement Visa Available for individuals over 55, this visa allows long-term residency under specific conditions.
Steps to Obtain a UAE Residency Visa
Apply for an Entry Permit Submit your application for an entry permit, either from within the UAE or from abroad.
- Activate Your Entry Permit Activate your entry permit upon arrival in Dubai or through an in-country status change.
- Medical Test and ID Complete a medical test and apply for your Emirates ID.
- Submit Documents Provide the necessary documents to the immigration department.
Why Choose Maldbury & Co for Your UAE Relocation Needs?
With extensive experience in facilitating UAE residency and business setup, Maldbury & Co is your trusted partner for a smooth transition. Our services include:
- Assistance with business registration and licensing
- Comprehensive support for residency visa applications
- Guidance on property investments and related residency visas
- Establishing holding companies, foundations, trusts, and SPVs
- Facilitation of UAE bank account openings
For expert advice and personalized support on obtaining residency through business setup or property ownership, visit Maldbury & Co or contact our team today.
For more information and expert guidance on relocating to the UAE and securing residency, reach out to Maldbury & Co for tailored solutions and support.